British gas boss says the UK's transfer to zero grid will not lower household electricity prices. [emphasis, links added]
Chris O'Shea, CEO of British gas company Centrica, wrote on LinkedIn that the shift to renewable energy “will not lower UK electricity prices at current levels”.
He added, “They may provide price stability and avoid future price peaks based on the international gas market, but they will definitely not lower prices.”
Mr. O'Shea's conclusions are based on analysis, comparing the costs of renewable energy to natural gas, which shows that the cheapest renewable energy costs approximately the same as gas, while the most outwards are three times more expensive.
This suggests that energy systems based on emerging technologies such as wind farms, solar parks or tidal power will not result in lower bills.
The verdict of the boss, one of the UK's largest energy providers, represents a refutation of Labour's commitment to consumers.
During last year's campaign Ed Miliband, now the energy minister, promised that the transition to clean energy would save families £300 by 2030.
Mr O'Shea said: “We need to stop having a polarized debate, which has no basis but is convenient, sound biting.
“I fully support the transfer to a cleaner energy system. I’m frustrated People will peddler wrong information at best, at worst. ”
The British gas boss did not mention any particular politician or party, but his judgment contradicted the claims in the Labor Manifesto last year, which said: “Houses and businesses will get lower bills from zero carbon power systems.”
Mr Miliband said shortly after being appointed Minister of Energy: “The only way to ensure our energy security and permanently cut bills is to accelerate the transition from fossil fuels to indigenous clean energy.”
Shadow Energy Minister Andrew Bowie said: “By 2050, Ed Miliband’s crazy dash has been built on ideological dogmas, completely ignoring the consequences for the British public.
“The £300 he promised, his war on North Sea oil and gas is not driving the bill, and his obsession with solar panels built with Chinese slave labor will promote energy costs.”
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